Archer Investment Management LLC grew its stake in shares of Microsoft Corporation (NASDAQ:MSFT – Free Report) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 823 shares of the software giant’s stock after acquiring an additional 188 shares during the period. Archer Investment Management LLC’s holdings in Microsoft were worth $410,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Defined Wealth Management LLC increased its holdings in shares of Microsoft by 3.6% in the second quarter. Defined Wealth Management LLC now owns 3,931 shares of the software giant’s stock worth $1,955,000 after purchasing an additional 138 shares during the period. Stokes Capital Advisors LLC increased its holdings in shares of Microsoft by 1.4% in the second quarter. Stokes Capital Advisors LLC now owns 39,918 shares of the software giant’s stock worth $19,856,000 after purchasing an additional 534 shares during the period. Pines Wealth Management LLC increased its holdings in shares of Microsoft by 7.7% in the second quarter. Pines Wealth Management LLC now owns 22,403 shares of the software giant’s stock worth $11,175,000 after purchasing an additional 1,608 shares during the period. Sunpointe LLC increased its holdings in shares of Microsoft by 19.3% in the second quarter. Sunpointe LLC now owns 15,226 shares of the software giant’s stock worth $7,573,000 after purchasing an additional 2,467 shares during the period. Finally, Seaside Wealth Management Inc. increased its holdings in shares of Microsoft by 121.3% in the second quarter. Seaside Wealth Management Inc. now owns 2,868 shares of the software giant’s stock worth $1,427,000 after purchasing an additional 1,572 shares during the period. Institutional investors own 71.13% of the company’s stock.
Microsoft Stock Up 0.2%
Shares of NASDAQ:MSFT opened at $510.15 on Thursday. The stock’s 50-day moving average price is $512.10 and its 200-day moving average price is $460.28. Microsoft Corporation has a 12-month low of $344.79 and a 12-month high of $555.45. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 37.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.12.
Microsoft Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.91 per share. This is an increase from Microsoft’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, November 20th. Microsoft’s dividend payout ratio (DPR) is currently 24.34%.
Analysts Set New Price Targets
Several research firms have recently weighed in on MSFT. Loop Capital upped their price target on shares of Microsoft from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. TD Cowen upped their price target on shares of Microsoft from $580.00 to $640.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on shares of Microsoft from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Jefferies Financial Group increased their target price on Microsoft from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Finally, Citigroup increased their target price on Microsoft from $605.00 to $613.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Microsoft presently has an average rating of “Moderate Buy” and an average target price of $612.54.
Insider Transactions at Microsoft
In other news, EVP Takeshi Numoto sold 4,850 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $527.32, for a total transaction of $2,557,502.00. Following the completion of the sale, the executive vice president directly owned 39,111 shares in the company, valued at approximately $20,624,012.52. This represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Satya Nadella sold 149,205 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $504.78, for a total transaction of $75,315,699.90. Following the sale, the chief executive officer owned 790,852 shares of the company’s stock, valued at approximately $399,206,272.56. This represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.03% of the company’s stock.
Microsoft Company Profile
Microsoft Corporation develops and supports software, services, devices and solutions worldwide. The Productivity and Business Processes segment offers office, exchange, SharePoint, Microsoft Teams, office 365 Security and Compliance, Microsoft viva, and Microsoft 365 copilot; and office consumer services, such as Microsoft 365 consumer subscriptions, Office licensed on-premises, and other office services.
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